Louisiana Downs Racetrack Sold To Rubico Gaming

After years of turbulence turned the historic Louisiana Downs racetrack into a shell of itself, it appears a rebirth may be on the way.

The Louisiana Racing Commission approved a $22 million sale that will transfer ownership from Caesars Entertainment to Rubico Gaming.

Following negations that lasted well over one year, Rubico Gaming will own the property’s racetrack and casino.

“We are prepared to bring this iconic track back to its iconic status,” Rubico President Kevin Preston told the LRC, according to a story by the Daily Comet.

The sale is expected to be completed as early as Nov. 1. All eyes will be on Rubico Gaming to see how it restores the famous Louisiana racetrack. If it does well, it could flourish as a great complement to the state’s sports betting industry, which is expected to hit the ground running before the end of 2021.

Also read: Caesars Sportsbook Louisiana features two pre-launch bonus offers.

Louisiana Downs Future Was Uncertain Without Sale

The racetrack and casino opened in 1974 and immediately became a hit. Harrah’s purchased the property in 2002 and renamed it Harrah’s Louisiana Downs.

Since then, the property has not been as popular. Without the casino, the property likely would have collapsed as horseracing became less popular.

“I really believe if this sale didn’t go through Caesars would ultimately close the facility,” Louisiana Gaming Control Board Chairman Ronnie Johns told the Daily Comet. “The company just isn’t interested in operating a horse racetrack.”

The biggest aspect of the sale is the racetrack’s importance to the state. The casino is undoubtedly profitable, but the racetrack has been a major liability. The plan is for Rubico Gaming to continue operating the racetrack as well as the casino.

It will be interesting to see how Rubico Gaming restores the once-popular racetrack. Horse racing might not be as popular as it used to be, but the state clearly has made it a point to commit to the project.

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